Financial Daily from THE HINDU group of publications
Tuesday, Jan 29, 2002
Financial Daily from THE HINDU group of publications Tuesday, Jan 29, 2002 |
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Opinion
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Letters Enron scandal
Why do we berate Enron when its guru goes scot-free? The Department of Trade and Industry (UK)'s booklet, `Protecting Business Information', advises executives to `reduce the risk of damage to your company's reputation' by protecting sensitive information. `Staff should be gagged (ensure a confidentiality agreement is signed) and all sensitive documents should be destroyed by approved cross-cut shredding, pulverising, burning or pulping'. Among those from whom material should be hidden are `investigative journalists' seeking to obtain newsworthy information'. What Enron did was for saving itself. The much larger issue is corporations have taken over the government. We should, therefore, not bother much about minor aberrations such as shredding, or lax accounting or regulatory standards but ensure that there is introspection on the part of the governments and corporations. S. Subramanyan
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